Pharma BD Deal Intelligence
At $11.2B, the most expensive pre-revenue acquisition in pharma history. Sofosbuvir earned it back in 21 months. Sovaldi and Harvoni generated $60B+ cumulative, fundamentally curing hepatitis C and redefining what a single molecule could be worth.
Ranks computed across 828 graded deals (Critic + Outcome Score both present).
Senate Finance Committee investigated Gilead's $84,000 Sovaldi pricing, finding the company set a revenue-driven pricing strategy from the start that…
Over the last five years, Gilead Sciences made a whopping $58.5B from its HCV franchise — the Pharmasset acquisition paid off quite nicely despite initial Wall…
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Gilead Sciences acquired Pharmasset for $11.2 billion in cash, gaining sofosbuvir (PSI-7977), a nucleotide analog for hepatitis C treatment.
3.2M US cases/yr · $2.1B US HCV Treatment Market (2011)
Hepatitis C virus (HCV) is a bloodborne flavivirus that infects an estimated 2.4-4 million Americans (2017-2020). Fewer than half clear acute infection spontaneously; the majority progress to chronic hepatitis, which is a leading US cause of cirrhosis, hepatocellular carcinoma, and liver transplantation. Patients are commonly asymptomatic for years, making serologic screening essential. Modern direct-acting antiviral regimens cure over 95% of patients in 8-12 weeks with minimal toxicity.
Sovaldi and Harvoni (Gilead) competed with AbbVie's Viekira Pak (paritaprevir/ritonavir/ombitasvir + dasabuvir) and later Mavyret (glecaprevir/pibrentasvir), BMS's Daklinza (daclatasvir), and Merck's Zepatier (elbasvir/grazoprevir). Gilead's own follow-on pangenotypic Epclusa (sofosbuvir/velpatasvir) and Vosevi (sofosbuvir/velpatasvir/voxilaprevir) consolidated the DAA class.
Gilead Sciences Inc. completed its acquisition of Pharmasset Inc. for $11.2B. Gilead Sciences acquired Pharmasset for $11.2 billion in cash, gaining sofosbuvir (PSI-7977), a nucleotide analog for hepatitis C treatment.
First oral HCV cure without interferon. Priced at $84K/course. Regulatory step in Gilead Sciences Inc.'s acquisition process for Pharmasset Inc..
Sovaldi+Harvoni peaked at ~$19B in 2015. Most successful drug acquisition ever. Reflects financial performance following Gilead Sciences Inc.'s $11.2B acquisition of Pharmasset Inc..
Revenues fell to ~$3.5-4B by 2018 as curative therapy shrank patient pool. Reflects financial performance following Gilead Sciences Inc.'s $11.2B acquisition of Pharmasset Inc..
Recouped $11B in first year. Cumulative HCV revenues exceeded $60B. Assessment of Gilead Sciences Inc.'s $11.2B acquisition of Pharmasset Inc. and its strategic outcomes.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Gilead Sciences Inc. / Pharmasset Inc. (this deal) | 2011 | $11.2B | 98 |
| Gilead Sciences Inc. / Triangle Pharmaceuticals Inc. | 2002 | $464M | 96 |
| Gilead Sciences Inc. / CymaBay Therapeutics | 2024 | $4.4B | 76 |
| Gilead Sciences Inc. / Nurix Therapeutics Inc. | 2019 | $2.3B | 69 |
| Gilead Sciences Inc. / Immunomedics Inc. | 2020 | $21.0B | 68 |
| Gilead Sciences Inc. / Kite Pharma, Inc. | 2017 | $11.9B | 67 |
| Gilead Sciences Inc. / Myogen Inc. | 2006 | $2.5B | 62 |
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